Published on 06-May-2023
Feature |
Socialism |
Communism |
---|---|---|
Ownership | Social ownership of the means of production | Collective ownership of the means of production |
Distribution of wealth | Distribution based on contribution to society | Distribution based on needs of individuals |
Role of the state | Significant state intervention in the economy and society | State is abolished in favor of a classless society |
Private property | Limited private property rights | Private property is abolished |
Incentives | Incentives based on contribution to society | Incentives based on societal needs and goals |
Class system | Class system still exists | Class system is abolished |
Equality | Social equality is prioritized | Complete equality is prioritized |
Government structure | Democratically elected government | Dictatorship of the proletariat |
Market economy | Limited market economy | No market economy |
Consumer choices | Limited consumer choices | No consumer choices |
Religion | Tolerated but often discouraged | Religion is often abolished |
Globalization | Open to international trade and investment | Rejects globalization as exploitation by capitalists |
Wealth accumulation | Wealth accumulation is limited | Wealth accumulation is abolished |
Revolution | May or may not require revolution | Revolution is a necessary step to achieve communism |
Currency | Currency is still used | Currency is abolished |
Economic planning | Economic planning is used to allocate resources | Economic planning is used to achieve societal goals |
Social welfare | Strong social welfare programs | Stronger social welfare programs |
Labor unions | Labor unions are allowed but controlled by the state | Labor unions are allowed but controlled by the workers |
Military | Military is still maintained | Military is abolished |
Education | Free education for all | Free education for all |
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